EUR/USD: 6/8 MM Level acted as resistance

EUR/USD: 6/8 MM Level acted as resistance

Image20180108151806001.png

There's a developing ending diagonal in wave 5. Also, we've got a pullback from 5/8 MM Level, so wave [iii] might have been formed. In this case, we're likely going to have wave [iv] of 5 in the coming hours.

Image20180108151806002.png

6/8 MM Level has acted as resistance, so there's a developing downward impulse, which could be wave (a) of [iv]. It's likely that the market is going to continue moving down towards 3/8 MM Level in the short term.

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